It was a big Saturday at the box office for Jurassic World. In just its third weekend at the box office, the dinosaur epic has passed $500 million.

With a projected weekend gross of $54.2 million, Jurassic World became just the fifth film in history to earn $500 million or more domestically, joining The Dark Knight ($534.9 million), The Avengers ($623.4 million), Titanic ($658.7 million) and Avatar ($760.5 million). In addition, the film has surprised Hollywood by overtaking Avengers: Age of Ultron as the highest-grossing film of the year so far. Hell, Age of Ultron still has a ways to go before it reaches $500 million domestically, as the film is currently topped out at around $452.5 million. That said, Jurassic World is going to have an insane amount of competition for that top spot, between Spectre, the newest James Bond outing due in November, and the hotly-anticipated Star Wars Episode VII: The Force Awakens. Regardless, the film industry is going to be the big winners this year no matter which movie comes out on top, as people now have more reason than ever to actually go to the movies.

Credit: Universal

Of course, to the surprise of nobody, Jurassic World is expected to place at No. 1 for the third consecutive week, pending official totals for the weekend. The movie’s $54.2 million kept it just barely ahead of its closest competitor, Disney-Pixar’s Inside Out, which came in at No. 2 with $52.1 million in a box office race that is among the closest in recent memory.

Unfortunately, the news wasn’t nearly as good for Seth MacFarlane, as Ted 2 opened to a disappointing $32.9 million. Insiders had predicted the film would open in the mid-to-high $40 million range, but the continued box office power of Jurassic World and Inside Out, coupled with poor reviews and a general lack of enthusiasm for the R-rated sequel, hurt Ted 2 considerably. Then again, Ted 2 is also suffering a bit from unrealistic expectations. No one expected Ted to do as well as it did in 2012, so it’s kind of crazy to expect lightning to strike twice in a summer movie field THIS crowded. It’s a sentiment shared by Universal’s domestic distribution head Nicholas Carpou.

“You have to remember that no one expected Ted to do what it did,” said Carpou. “So for Ted 2 to do $33 million in a very crowded weekend isn’t bad. And we have a very good chance of playing out. Ted 2 will be a successful film for us.”

As for the weekend’s other big arrival, the family movie Max, centered on a dog who returns from Afghanistan after the death of his handler, delivered a strong total. With a projected fourth-place finish of $12.2 million, Max is on track to being a success for MGM, since the movie cost less than $20 million, meaning the movie doesn’t have far to go to turn a profit.

Lastly, Paul Feig’s Spy rounded out the Top 5 with $7.8 million, bringing its domestic gross to $88.4 million. Worldwide, the comedy with Melissa McCarthy has earned a healthy $195 million.

But nothing is set in stone just yet. Join us again tomorrow for the final numbers for the weekend box office!